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Economic Cooperation in an Uncertain World

  • ID: 2246897
  • Book
  • April 1994
  • Region: Global
  • 296 Pages
  • John Wiley and Sons Ltd
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In this innovative new book Ghosh and Masson re–examine the theoretical and empirical case for international macroeconomic policy coordination. In doing so they emphasize the importance of macroeconomic uncertainty in determining both the benefits from, and the obstacles to, such coordination.

Written for students and professionals working in the fields of open economy macroeconomics and international relations, the book provides a comprehensive study of international policy cooperation, including the problems of negotiating and sustaining international agreements.

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1. Introduction.

2. A Theoretical Framework for Modelling the Open Economy.

3. The Theory of Policy Coordination Under Uncertainty.

4. An Example: The Stock market Crash of October 1987.

5. Alternative Empirical Models of the Open Economy.

6. Model Uncertainty and the Gains from Coordination: An Empirical Analysis.

7. Cooperation versus Coordination.

8. On the Sustainability of Cooperative Agreements.

9. Issues in Bargaining.

10. Conclusions.

Appendix – Cooperation and Coordination in Historical Perspective.



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Atish R. Ghosh
Paul R. Masson
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